Steelcase Inc. (NYSE:SCS) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a report issued on Tuesday.

A number of other brokerages also recently weighed in on SCS. BidaskClub downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Sidoti raised shares of Steelcase from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, September 1st. Zacks Investment Research raised shares of Steelcase from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. ValuEngine downgraded shares of Steelcase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, UBS AG downgraded shares of Steelcase from a “strong-buy” rating to an “outperform” rating in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Steelcase has an average rating of “Hold” and a consensus target price of $16.00.

Steelcase (NYSE SCS) traded up 0.33% during trading on Tuesday, reaching $15.40. 477,503 shares of the company’s stock traded hands. The company has a 50-day moving average of $13.92 and a 200 day moving average of $15.21. Steelcase has a 12 month low of $12.50 and a 12 month high of $18.15. The stock has a market capitalization of $1.79 billion, a P/E ratio of 15.14 and a beta of 1.21.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Monday, September 18th. The business services provider reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. Steelcase had a net margin of 3.98% and a return on equity of 15.72%. The company had revenue of $775.60 million during the quarter, compared to the consensus estimate of $759.83 million. During the same period in the prior year, the company earned $0.32 EPS. Steelcase’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Steelcase will post $0.93 earnings per share for the current fiscal year.

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In other Steelcase news, Director Peter M. Wege II sold 14,400 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $13.81, for a total transaction of $198,864.00. Following the sale, the director now owns 270,180 shares in the company, valued at approximately $3,731,185.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.87% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SCS. BlackRock Inc. raised its holdings in Steelcase by 29,527.3% during the 1st quarter. BlackRock Inc. now owns 5,656,450 shares of the business services provider’s stock worth $94,745,000 after buying an additional 5,637,358 shares during the period. Alliancebernstein L.P. raised its holdings in Steelcase by 2,481.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,183,486 shares of the business services provider’s stock worth $44,569,000 after buying an additional 3,060,155 shares during the period. Wellington Management Group LLP raised its holdings in Steelcase by 29.0% during the 1st quarter. Wellington Management Group LLP now owns 4,978,251 shares of the business services provider’s stock worth $83,385,000 after buying an additional 1,119,428 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Steelcase during the 1st quarter worth about $17,609,000. Finally, Vanguard Group Inc. raised its holdings in Steelcase by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 7,590,595 shares of the business services provider’s stock worth $127,143,000 after buying an additional 659,548 shares during the period. Hedge funds and other institutional investors own 62.10% of the company’s stock.

Steelcase Company Profile

Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.

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